Neurogene (NASDAQ:NGNE) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Neurogene (NASDAQ:NGNE) had its target price increased by stock analysts at Stifel Nicolaus from $44.00 to $60.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 51.29% from the company’s current price.

NGNE has been the topic of several other reports. BMO Capital Markets dropped their price target on Neurogene from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday. HC Wainwright raised their price target on shares of Neurogene from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday. Leerink Partners lifted their price objective on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Robert W. Baird increased their price target on shares of Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $63.33.

Neurogene Price Performance

NASDAQ NGNE opened at $39.66 on Tuesday. Neurogene has a 1 year low of $12.49 and a 1 year high of $74.49. The business’s 50-day moving average is $46.91 and its 200 day moving average is $40.12.

Institutional Trading of Neurogene

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NGNE. Quest Partners LLC acquired a new stake in shares of Neurogene in the second quarter valued at about $55,000. BNP Paribas Financial Markets boosted its holdings in Neurogene by 192.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after buying an additional 1,429 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Neurogene during the 1st quarter worth approximately $120,000. Rhumbline Advisers acquired a new position in shares of Neurogene during the second quarter valued at approximately $491,000. Finally, Avoro Capital Advisors LLC purchased a new position in shares of Neurogene in the second quarter valued at approximately $802,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Company Profile

Neurogene Inc, a biotechnology company, develops genetic medicines for rare neurological diseases. The company's product candidates include NGN-401 which is packaged in an adeno-associated virus 9 that is in Phase 1/2 clinical trial for the treatment of Rett syndrome; and NGN-101, a conventional gene therapy candidate that is in Phase 1/2 clinical trial to treat CLN5 Batten disease.